Brazilian miner and iron ore producer Vale said this week during a call with analysts it expects pellet producer Samarco to resume operations by the second half (H2) of 2020.
The forecast, which was unveiled this week by Vale CFO Luciano Siani, reflects a delay from Vale’s previous forecast of an “early 2020” restart for Samarco.
Vale’s former CEO, Fabio Schvartsman, had first anticipated a “2020 restart” for Samarco. He then indicated a more precise timeline for Samarco to resume operations in the “beginning of 2020.”
Samarco reportedly expected to resume operations in late 2018, according to a Bloomberg article in September 2017. Then, a BHP Billiton executive said a 2019 restart was “unlikely.”
Samarco halted operations in November 2015, following a deadly iron ore dam waste burst that killed 19 people. The company is owned by Vale (50 percent) and BHP Billiton (50 percent).